All Forum Posts by: Victoria Dransoff

@Joe Benson how far below market? If they are good tenants and pay consistently I would work on raising the rent over a period of time. It may take a while, but if the numbers work as is you may just want to have a plan to get it to market. Keep in mind, if you chose to move them out you will have some expenses to ready the unit for the next tenant. Victoria

Good Afternoon BPers!

I am looking for feedback on the attached deal - it is for 2-12 unit apt buildings in the Cleveland area 44127.  This will be my largest purchase to-date and double the number of units I own.  Any feedback is greatly appreciated.

View report

*This link comes directly from our calculators, based on information input by the member who posted.

Thanks!

Victoria

Can I get more info on this? Thanks

I recently converted one of my properties to gas from oil. I was fortunate that there was already a gas line to the house, I just needed the meter, new furnace and the plumbing. Total cost $5400. Worth it? I think so. I will never again have to worry about the tenant not filling the tank (due to cost) and using space heaters instead. Victoria

It does, thanks!

Thanks for the help with this John! Repairs are estimated at 32k, ARV 95-100k. Looking at the property on Zillow it shows as pre-foreclosure auction with an auction estimate at 59k. Victoria

What are the qualifications that must be met-income, etc.?

Good Afternoon, A few months ago I found a local property for sale listed at 49k-short sale. I offered 45k the owner accepted, but the bank had to approve the offer too. The bank countered at something ridiculous like 85k and I walked away. The house has been on the market ever since. From time to time I would look at it again wondering what would be an offer the bank would accept. Today I see the property still listed for the same price, but now it shows on Zillow as a pre-foreclosure auction. Is there any chance of stepping back in to this and making a deal with the bank? Victoria

Thanks George!

Thank you Carl Fischer I will need to read up a bit more on the tax stuff. I do have other properties held in LLCs so if I were to go the solo 401k route it is already established. Are any of the folks you mentioned who have done these types of transactions members in BP? One other question: if I do the delayed financing can I establish another Ira funded with the "cash out? That way only one property in each. Thanks!